CDW Co. (NASDAQ:CDW) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lowered its position in shares of CDW Co. (NASDAQ:CDW) by 48.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,243 shares of the information technology services provider’s stock after selling 1,184 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in CDW were worth $216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its stake in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after purchasing an additional 1,446,025 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of CDW during the third quarter worth $172,217,000. Madison Investment Advisors LLC acquired a new stake in shares of CDW in the fourth quarter valued at about $130,996,000. Proficio Capital Partners LLC lifted its stake in shares of CDW by 18,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock worth $119,598,000 after buying an additional 683,446 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after acquiring an additional 252,921 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group reduced their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.50.

CDW Trading Down 2.1 %

CDW opened at $163.84 on Friday. The stock has a market capitalization of $21.71 billion, a PE ratio of 20.56, a P/E/G ratio of 3.21 and a beta of 1.01. CDW Co. has a one year low of $161.19 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The business’s 50 day moving average price is $182.94 and its 200 day moving average price is $192.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, equities research analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.53%. CDW’s dividend payout ratio is currently 31.37%.

CDW announced that its board has authorized a stock buyback plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.